Upcoming company earnings may set tone for M’sian market
PETALING JAYA: The incoming barrage of financial results may set the underlying tone on Bursa Malaysia over the next few weeks, as eager investors searching for fresh leads may support mild gains for the index in the near term……
Demand for luxury houses seen to be flattish
PETALING JAYA: Demand for houses priced around RM1mil has dropped and is expected to be flattish throughout this year, a reflection of real estate transaction volumes across the Asia-Pacific, an online survey in Malaysia and a Hong Kong-based report …..
Vehicle sales down 25%
PETALING JAYA: Total vehicle sales fell 25% to 40,948 units in January 2012 from 54,781 units in the same month last year, according to the Malaysian Automotive Association (MAA)……
Palm oil price hits 8-month high
KUALA LUMPUR: Crude palm oil (CPO) futures price hit RM3,260 per tonne, the highest in more than eight months but finished short of the intraday high buoyed by higher soy bean prices……
Tax spotlight on green building materials
PETALING JAYA: The Energy, Green Technology and Water Ministry will look at ways to reduce the costs of green building materials in order to encourage the use of such materials in property and public infrastructure development……
Khazanah to continue investments in green urban projects
PENANG: Khazanah Nasional Bhd, the Governments investment arm, will continue to invest in green and sustainable initiatives to support Malaysias agenda enshrined in the 10th Malaysia Plan and Economic Transformation Programme, managing director Tan…..
The Govt should consider a PDP for the Gemas-JB double track job
NOT only has the award of the Electrified Double Tracking Project (EDTP) for the Gemas to Johor Baru link been delayed, it has unintentionally drawn controversy……
Media community mourns the passing of former MSA president
PETALING JAYA: The late Tan Siang Lin, the Media Specialist’s Association’s (MSA) former president who passed away on Sunday, will be fondly remembered for her never-say-never attitude, passionate energy and warm personality……
M&A, IPO deals win awards for banks
KUALA LUMPUR: The RM11.85bil merger and acquisition (M&A) between SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd has been named the Best Deal/Most Innovative Deal in South-East Asia at the annual Deal & Solution Awards 2011……
ACCCIM to co-host Competition Act 2010 seminar
PETALING JAYA: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and ACCCIM Socio-Economic Research Centre will be jointly organising a seminar on the Competition Act 2010 on Feb 23, to promote awareness and better underst…..
KSLs Ku wants to sell his Ulu Tiram oil palm estate
JOHOR BARU: KSL Holdings Bhd executive director Ku Hwa Seng has been identified as the businessman who is disposing of his privately-owned freehold oil palm estate in Ulu Tiram for RM83.08mil……
Bursa issues query over high share price and trading volume of Green Ocean
PETALING JAYA: Bursa Malaysia has stopped the trading in Green Ocean Corp Bhds shares less than half an hour before the market closed due to unusual market activity earlier in the day……
Integrax moves on, worst of shareholder feud is over
KUALA LUMPUR: Shareholder disagreements should be a thing of the past for Integrax Bhd after the integrated industrial Lumut port operator saw a reshuffling of director appointments last week, said newly appointed deputy chairman Amin Halim Rasip……
Silterra declines comment on potential strategic investors coming into the group
KUALA LUMPUR: Wafer foundry provider Silterra Malaysia Sdn Bhd has declined to comment on potential strategic investors coming into the group to boost the companys finances and business operations……
Nilai Resources gets capital repayment request
KUALA LUMPUR: Nilai Resources Group Bhd has received a letter from its major shareholders to undertake a selective capital repayment exercise……
Support Line
K.M. Lee writes on Dataprep Holdings, Sern Kou Resources and Tanjung Offshore…..
Malaysia’s Maxis gets nod for $805 mln sukuk
KUALA LUMPUR, Feb 20 (Reuters) – Malaysian mobile phone network operator Maxis Bhd has obtained the approval from the Securities Commission for the proposed issuance of a 2.45 billion Malaysian ringgit ($804.99 million) sukuk, according to a local st…..
MIDCAP-Malaysia’s IJM Land scores high on analyst revisions
IJM Land is a stand-out stock based on analysts’ EPS upgrades over the past week among 137 companies in Malaysia, data from Thomson Reuters StarMine shows……
Mitrajayas unit bags 3 projects worth a total of RM182mil
KUALA LUMPUR: Mitrajaya Holdings Bhds wholly-owned subsidiary, Pembinaan Mitrajaya Sdn Bhd (PMSB), has secured three projects worth a total of RM181.55mil……
Court dismisses Metroplex application
KUALA LUMPUR: The Federal Court has dismissed the application by Metroplex Holdings Sdn Bhd for leave to appeal to the Federal Court against the High Courts and Court of Appeals decision……
Tesco to raise up to US$585mil Thai property fund
HONG KONG: Tesco Plc, the world’s No. 3 retailer, has launched the initial public offering of its Thailand property fund, aiming to raise up to US$585mil to finance future expansion……
UMW targets sale of 5,000 hybrid units
PETALING JAYA: UMW Toyota Motor Sdn Bhd (UMW) targets to sell 5,000 units of hybrid cars this year bolstered by increasing consumer awareness and ongoing tax incentives for hybrid vehicles. …..
Singapore seeks gold hub status
SINGAPORE: Singapore is seeking to lure bullion refiners by scrapping taxes on gold, a move which could also attract trading houses to open storage facilities and transform the country into a key Asian pricing hub, industry sources said……
Oil hits 8-month high on Iran, China moves
LONDON: Brent crude rose yesterday, briefly hitting an eight-month high above US$121 a barrel, as Iran halted exports to British and French companies ahead of a European Union embargo. …..
Thai Q4 GDP slumps 11%
BANGKOK: Thailands economy, which shrank a record 10.7% in the fourth quarter due to devastating flooding, is expected to bounce back sharply this year as the government and major exporters step up reconstruction spending after the disaster. …..
Japans record trade deficit with China
TOKYO: Japan logged a record trade deficit with China in January as exports dropped by a fifth, underscoring concerns about how sharply China is slowing and its ability to buffer a frail global economy against European turmoil……
S&P warns Japan on debt
TOKYO: Standard & Poor’s (S&P) warned it could lower Japan’s sovereign rating if the economy expands less than expected or if public debt continues to grow, as the country’s unpopular government struggles to win support for …..
Carlsberg warns of flat beer profits in 2012
COPENHAGEN: Danish brewer Carlsberg warned its operating profits will be flat in 2012 hit by declining beer markets in northern and western European markets while its biggest market, Russia, will only show a slow recovery. …..
Taiwan cuts 2011 Iran crude imports
SINGAPORE: Taiwan cut its imports of Iranian crude by nearly half in 2011 from the previous year ahead of tougher sanctions by the West on Tehran and on lower refinery throughput, government data showed……
Wal-Mart to take majority stake in China e-commerce company
SHANGHAI: Wal-Mart Stores Inc said yesterday it was taking a controlling stake in Chinese e-commerce firm Yihaodian, as the world’s largest retailer seeks new revenue sources to fend off rising competition in the world’s fastest-growing m…..
Rio Tinto bets US$518m on future of automation
MELBOURNE: Global miner Rio Tinto has accelerated a move toward automation, unveiling a US$518mil plan to pioneer the use of driverless trains in Australia and increasing its bet on a future where machines rather than miners do most of the work. …..
D-day for second bailout
BRUSSELS: Eurozone finance ministers were expected to approve a second bailout for Greece yesterday to try to draw a line under months of uncertainty that had shaken the currency bloc, although there was work to be done to make the figures add up. …..
TPG still keen on Billabong despite asset sale
MELBOURNE: Private equity firm TPG Capital renewed a US$825mil takeover offer for Billabong International, saying the Australian surfwear company’s planned sale of one of its most profitable brands would not be an obstacle. &nb…..
South Korea posts trade deficit for year to Feb 20
SEOUL, Feb 21 (Reuters) South Korea ran a trade deficit of $3.86 billion for the year to Feb. 20 as exports barely grew while imports jumped, customs data showed on Tuesday, hit by the euro zone crisis and rising raw materials prices……
China Telecom says in deal with Apple to sell iPhones in China
HONG KONG, Feb 21 (Reuters) China Telecom, the smallest of the country’s three carriers, said on Tuesday it had signed an agreement with Apple Inc to sell iPhones in China, the world’s largest mobile phone market……
HSBC in 4 bln stg SME trade financing boost
LONDON, Feb 21 (Reuters) HSBC, bucking the trend among some European banks, is increasing its exposure to trade finance by making 4 billion pounds of credit available to small and mediumsized enterprises that trade, or are planning to trade, internat…..
Foreign investors fear Japan banks may hijack Olympus board
LONDON/TOKYO (Reuters) – Western investors in Japan’s disgraced Olympus have accused its banks of trying to take control of the boardroom by stealth, amid media reports that the firm’s major creditors are set to install their own appointees in the to…..
Wal-Mart to take majority stake in China e-commerce firm
SHANGHAI/HONG KONG (Reuters) – Wal-Mart Stores Inc said on Monday it is taking a controlling stake in Chinese e-commerce firm Yihaodian, as the world’s largest retailer seeks new revenue sources to fend off rising competition in the world’s fastest-g…..
Top Olympus executive found dead in India park
Feb 21 (Reuters) A top executive of Japan’s scandalridden Olympus Corp has been found dead in a park outside New Delhi, an apparent suicide, The Times of India said on Tuesday, quoting police……
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